Kategorie: Altcoin News

• NMR is the native token of Numeraire and has gained by triple digits in two days

• Numeraire enables equity trading via the Ethereum blockchain

• Developers hinted at progress on 1 million stock tokens

Numeraire crypto token NMR/USD has staged a massive rally this week. The cryptocurrency had returned 171.74% in just two days as of press time. The token touched a high of $39.5 on June 30. The token traded at a low of $8 on June 29. The changes in the price highlight the intense volatility the token has faced. 

Numeraire is a software that enables users to trade equities on the Ethereum blockchain. Users can execute trades relying on artificial intelligence and expert predictions via blockchain. Two applications on Numeraire’s platform support different types of traders. The first is “Signals,” an avenue for traders to upload their stock market strategies. The second is the “Tournament,” a weekly competition. Traders submit their trading algorithms on stock markets, allowing others to bet on the potential outcome.

NMR is the native token of Numeraire. The token supports staking on the platform and conducts payments. It also rewards tournament participants. NMRs are also burned whenever participants stake tokens to an incorrect prediction. 

The rise of NMR happened after its developers confirmed progress on 1 million stock NMR tokens. As of press time, the trading volume had surged by double digits in the last 24 hours. It illustrates the growth in investor interest in the crypto token.

 NMR technical analysis

Source – TradingView

Technically, NMR trades around the $23 support zone, a major decline from the previous day’s high. The 21-day and 14-day moving averages continue to support the price. Despite the high trading volume, the token could crash further below if $23 fails to hold. For now, investors should be aware of a potential token dump. 

Summary

NMR rise is connected to the latest announcement. However, we perceive the sentiment as weak, and investors could be caught in a bull trap.

The post This little-known crypto token has returned 171% in 2 days with surging volume appeared first on CoinJournal.

These three make for value buys now that they are trading at record lows

Key points:

• While the market is heavily bearish, BNB, ATOM, and BAT have strong odds for long-term growth. 
• These three are not only trading at record lows, but they also have fast-growing adoption.
• This could influence their value appreciation long term. 

The cryptocurrency bear market continues to bite hard, and Bitcoin is now back to $20,000. As long as the bear market persists, altcoins will likely drop further. There is also the risk that some altcoins may never recover. In previous cryptocurrency bear markets, many altcoins went down but never made a comeback.

However, based on core fundamentals and adoption levels, certain altcoins have not only a strong chance of surviving but also a strong rebound. Here’s why…

Binance Coin (BNB)

Binance Coin BNB/USD is one of the most adopted cryptocurrencies in the market. It started as a utility token for paying fees on the Binance exchange, but its use case has since expanded with the growing Binance network, Today, investors can stake Binance Coin, trade it, and use it to pay fees in the Binance Smart Chain, and a host of other Binance products. 

This use case increases the odds of Binance Coin surviving the current bear run and also making new highs once bulls regain control. Such a move could be reinforced by the fact that Binance Coin is a deflationary cryptocurrency and records a drop in total supply every quarter.   

Basic Attention Token (BAT)

Like Binance Coin, there is a real utility for Basic Attention Token BAT/USD. The BAT token powers adverts and is used for rewarding users of the Brave Browser. In the last few years, the Brave Browser has become one of the essential browsers in the market. 

Due to this browser’s heavy focus on privacy, it has a high degree of growth potential. This makes BAT one of the safer cryptocurrencies that you can bet on Today. 

Cosmos (ATOM)

Cosmos ATOM/USD is another cryptocurrency you can bet will be around for many years. That’s because of the idea behind it and the fact that adoption is gaining momentum. 

Cosmos is a blockchain that aims to interconnect other blockchains in what would be considered an internet of Dapps. This is a big deal as the whole point of decentralized applications is to build an entirely new internet, one that gives more power to the user. 

Besides its growing adoption, COSMOS is built on rock-solid technology. The tech behind COSMOS is so powerful that it has been co-opted into many other cryptocurrencies. In essence, the odds of growth are pretty high as more networks continue to launch and interconnect through the COSMOS blockchain.

The post The safest cryptocurrencies to buy in the bear market appeared first on CoinJournal.

• Solana’s SOL has recovered from the bottom of $32.

• Solana is touted as an Ethereum killer, but frequent network issues are a concern.

• Price is yet to find lasting bullish momentum as resistance at $42 keeps it lower.

As most cryptocurrencies trade at multi-year lows, price bottoms are perfect buying opportunities. Solana SOL/USD, one of the booming cryptos in 2021, trades at $32. The price is significantly below its all-time highs of above $250. The cryptocurrency traded at $42 some days ago, a significant jump from the lows of $26. Now, SOL seems to have been trapped below a resistance at $42. 

To see a lasting recovery in price, SOL needs to break above $42. Although the price seems to have broken above the downtrend, SOL remains bearish. The bear weakness in SOL emanates from the general market and the network’s shortcomings.

Solana is often touted as Ethereum’s killer. The labeling comes from its similarities to Ethereum while offering a more scalable ecosystem. The ecosystem also offers faster and less expensive transactions compared to Ethereum. The prior year’s gains underlined the trust that Solana had built in the blockchain industry. However, several hacks and network outages have accelerated SOL’s market weakness. Besides the sector weakness, Solana needs to address network issues to compete with Ethereum.

SOL technical analysis shows waning bullish momentum

Source – TradingView

On the shorter 4-hour time frame, SOL is under pressure after failing to break past $42. The weakness underlines the lack of directional move for the token. An RSI of 25 suggests the token is currently oversold. However, there is still room to move lower as the next support stands at $26. As long as the bear crypto market continues, SOL will remain trapped below $42. We cannot rule out a break below the $26 support.

Summary

Solana’s SOL is bearish. The token failed to break past $42 and is going lower. The next level to watch is $26, but the price can break lower.

The post Does Solana’s token SOL have a bullish case after recent gains? appeared first on CoinJournal.

• Request Network powers payments through the blockchain

• Request Network token gained 58% in one day 

• REQ could crash as bearish signals emerge at resistance

Request Network’s token REQ/USD was the talk of traders on Thursday. The crypto-token posted impressive gains of 58.21% in 24 hours, according to Coinmarketcap. The total trading volume rose by 2,654% in the same period. The gains happen amid escalating crypto weakness, with Bitcoin sliding below $19,000. The total gains in the last 7 days were 64.25%. There was no immediate trigger for the robust gains. However, today’s gains make it worth exploring more about the protocol.

Request Network is a payment protocol for payment requests. It is built on the Ethereum blockchain and enables individuals to request payments. It is regarded as a bridge between the digital and physical world of payments. REQ is the native token that powers the network.

As the decentralization of finance continues to grow, the Request Network will grow. Since its launch in January 2021, the network has processed more than $203 million in crypto invoices. Metaverse giant, The Sandbox is one of the high-profile clients of Request Network. Other crypto projects such as MakerDAO, AAVE, and Chainstack also use the protocol.

REQ technical analysis

Source – TradingView

Technically, the REQ price suggests a parabolic move since June 29. The established resistance is at $0.128. Although the price broke past the resistance, it is crossing below it. This is the first signal that the price move could be unsustainable. The RSI also shows the price is retreating from an overbought level. The MACD line may be above the moving average to suggest a bullish momentum. However, overbought conditions and bearish pin bars at the resistance suggest downsides. Investors should seek to close positions and book profits now.

Summary

We recommend a sell of REQ as bearish signals emerge at key resistance. The lack of clear fundamentals driving the surge is also a red flag. Sell now to avoid a bull trap.

The post What is the bull case for Request Network’s REQ as price pumps 58% in 24 hours? appeared first on CoinJournal.

From a technical analysis perspective, FLOW is a better bet short term

Key points:

• The overall cryptocurrency market is bearish, but in the short term, some coins have good prospects.

• FLOW is one of the cryptocurrencies that currently have strong buying volumes and are promising in the short term.

• Cardano is bearish short-term but has the fundamentals to gain long-term value.

The cryptocurrency market is bearish at the moment, so everything is in the red. While buying any top crypto today has significant odds of long growth term, it’s not the case in the short term.

 More short term, some cryptos can do better than others depending on money flow and short-term news. Technical analysis is one way to tell which crypto can do better than the rest short term.

In this context, between Cardano and Flow, Flow is a much better trade in the short term.

Flow (FLOW) Chart analysis

In the past 72 hours, Flow FLOW/USD buying volumes have risen. On 26th June 2022, FLOW dropped slightly before making a double bottom and rallying again. This indicates that bullish momentum is on the rise, and it could keep rallying going into the future. If FLOW can push through resistance at $1.75, it could easily test $2 or more in the short to medium term.

Source – TradingView

Cardano (ADA) price analysis

Cardano ADA/USD has been bearish for more than 72 hours. In the last 24 hours alone, Cardano has been making lower lows, an indicator that sellers have crashed every attempt by bulls to retake the market. 

When writing this article, Cardano bulls attempted to retake control, but volumes were low. If bulls can push Cardano through the day’s high of $0.489, it could break out of the current bearish trend in the short term.

Source – TradingView

However, with buying volumes low and the broader market overall bearish, the odds seem low for Cardano to pull off such a move in the very short term. Besides, no major news is coming up anytime in the next couple of weeks.

Conclusion

FLOW holds much more promise in the short term than Cardano. The charts show strong buying momentum, while Cardano is stuck in a bear trend with low buying volumes.

That said, the two cryptocurrencies have a lot of promise in the long run – the fundamentals are in their favor. Cardano is one of the most promising platform blockchains in the market today, thanks to its mix of security, decentralization, and scalability. The recent launch of Cardano smart contracts has added to its intrinsic value, and as adoption grows, Cardano’s price is likely to go up as well. 

On its part, FLOW is one of the fastest-growing smart contracts cryptocurrencies in the market today. Today, FLOW has a wide ecosystem of Web 3.0 projects building on top of it, and the numbers will only rise over time. The same will reflect in the price of FLOW over the years.

The post Is Flow a better buy than Cardano today? appeared first on CoinJournal.